Page 2 - Equal Credit News Today

In a recent interpretive rule announced on August 10, 2022,—and unveiled at a summit of the National Association of Attorneys General—the CFPB stated that digital marketers are subject to the CFPB's jurisdiction, and expressly warned that it may take enforcement action against these entities.

On July 27, 2022, the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) announced that they reached a settlement with a nonbank residential mortgage lender to resolve...

The CFPB issued a Fair Lending Report in May of 2022 ("Report"), in which it provided updates on its involvement with ongoing litigation, including its amicus program.

In 2020, the CFPB blogged that Regulation B's flexibility can be compatible with AI algorithms, because "although a creditor must provide the specific reasons for an adverse action…

On May 26th, 2022, the Consumer Financial Protection Bureau ("CFPB") publisheda Consumer Financial Protection Circular(the "Circular"), confirming that creditors must provide specific reasons for taking adverse action...

The Consumer Financial Protection Bureau ("CFPB") released a regulatory Circular providing guidance regarding the use of "complex algorithms" to assess whether a consumer should be extended credit.

When Congress enacted the CFPA in 2010, it provided for concurrent enforcement by federal and state regulators.

On March 31, 2022, the Federal Trade Commission ("FTC") and the Illinois Attorney General ("AG") sued a group of auto dealers ("Napleton" or the "Companies") for violating Section 5 of the FTC Act...

"Fintech" refers generally to the financial services industry's emerging use of sophisticated software, including machine learning and artificial intelligence (AI), and other modern technologies...

On March 16, 2022, the Consumer Financial Protection Bureau (CFPB) announced changes to its supervisory operations for the stated purpose of positioning the CFPB to better protect families and ...